There are two things in life that everyone needs but no one wants to talk about – sex and money. People don’t like these topics; they find them uncomfortable. And while it might be easier to simply talk about what you watch on Netflix than to talk about personal finance, these topics are important and deserve to be addressed.

For whatever reason, these topics are skirted around and no one wants to engage in real conversations. I’m here to help you with the money side of things. In this article I will give you some real tips and some hard truths about spending, saving, and investing your money wisely. I will then give you an example of a bold strategy that worked for me.

So let’s go, here are some real tips about these issues that will help your real life money issues:

Managing and Growing Your Money

As mentioned, money is a touchy subject. No one wants to talk about what they make, and no one wants to talk about how they manage their money. Unfortunately, just because we don’t talk about them doesn’t make them any less real. Here are five extremely important tips to help you save and manage your money:

Watch What You Spend

The minute you start making money, you need to watch your spending habits. I know, sounds obvious, save your money. But if it’s so obvious, then why is it lost on so many people?

It is incredibly easy to spend money nowadays. The second you step outside you are hit from all sides by marketing and by companies whose only goal is to take your money from you. You have apps that are directly tied to your credit card which are designed to take away the accountability of actually handing over real money (we’ve all been hit with that Saturday night Uber bill that we forgot about).

It is easier than ever before to spend, and it’s a big reason people’s expenses pile up and they can’t find ways to save. So whether it’s an Uber bill, a quick take-out dinner, or that latte you pay for every morning with six dollars cash, these mini payments add up over time in a big way. You need to start budgeting what you spend and being sure that you aren’t spending money on things that don’t give you value and don’t improve your life.

Spend Money to Make Money

It’s an old cliché, but it’s very true. Any successful investors will tell you that you need to spend money on things that are going to make you money in the long run. There is wasteful spending, and then there are investments, and you need to start to budget your spending toward the investment side of things. Whether it be advertising for your business, a new computer to create your designs, or office space to get your work done, you need to find the investments that help you meet your long-term financial goals.

For me, when I got into real estate, I knew I needed to invest some extra money in some nice suits. A nice suit shows that I respect my client, and people want to work with someone who respects them.

Invest Into Multiple Things

Keep as many balls in the air as possible. The nature of investing is uncertainty, but with multiple, well-researched investments, you are hedging against that uncertainty and increasing your chances of success. You don’t know which investment is going to pop off, but if you don’t spread your money around then you won’t be there when one eventually does. Investment income could end up being one of your most important sources of wealth.

Be Tax Conscious

You need to save for taxes, especially if you are a self-employed person. Taxes can really blindside you at the end of the year, but with a proper budget, and detailed accounting, you can make sure this doesn’t happen to you. This includes knowing the tax rules and putting aside money for this purpose, or hiring someone (such as an accountant) who can do this for you.

Work With People Who Are More Financially Literate Than You

Whether it is a co-worker, a friend, a financial advisor, or anyone else. You need someone in your life that you really trust with your money. It needs to be someone you can go to for financial advice on how to spend your money and where to invest. Most of the time, they won’t tell you to do what you want to do with your money, but they will tell you what you should do with your money. They can work with you to set a complete and detailed budget that will have you growing your net worth over time.

You can’t do it all alone, and having a person you can trust will help you to meet your short-term goals as well as your long-term goals.

My Story: A Financial Wall

As a bonus for this article, I’m going to share one bold strategy that got me to where I am today. This strategy won’t be for everyone, but it worked for me. I am going to then share the one tip that I think is most important to success in any career.

Early in my career, I was struggling to make ends meet and I didn’t feel I was growing my career like I should. I put myself up against a financial wall and I forced myself to work to meet my financial goals.

What I did was risky and bold. I bought a $3.7 million apartment that I could not afford. I knew in order to really get that drive to succeed, I needed motivation. I had no option, I had to succeed at this point. It gave me the motivation I needed at this point in my life, and I ended up meeting my goals.

I’m not saying you need to do this to motivate yourself to success, but I am saying that in order to succeed, you need that drive. You need to find that motivation somewhere. Success can no longer be an option, you must meet your goals.

My Number One Key to Success: Consistency

So, with all this said, why do I think that people don’t reach their potential in their careers? My answer to this is inconsistency. People’s attention spans are too short. To truly excel at something you need to master it, and that doesn’t happen all at once. It requires continuing to work even through the boredom, and it requires not taking days off.

I truly believe in the “power of showing up”. You need to stick to what you are doing. Most sales people think that they are too busy to learn new things, and then ten years later wonder why they are in the same position. You need to be continually practicing and honing your craft, because if you aren’t improving, you won’t advance.

I hope this article has enlightened you. Effective money management is your first step to the financial freedom you dream of achieving.

– Ryan